Former Binance executive and U.S. federal agent, Tigran Gambaryan, has publicly accused the Nigerian government of extorting the U.S. government of $50 million in exchange for his release from detention. Gambaryan, who was detained in Nigeria for eight months on charges including money laundering and tax evasion related to Binance’s operations, made the claim on the social media platform X. The crisis began in February 2024 when Gambaryan and a colleague, Nadeem Anjarwalla, were detained upon arrival in Nigeria for discussions regarding regulatory scrutiny of Binance. Nigerian authorities later filed charges against both executives and the company, accusing them of money laundering and tax evasion. The detention was fraught, with Gambaryan’s family reporting serious health issues and denial of proper medical care.In October 2024, a Nigerian court dropped the money-laundering charges against Gambaryan, due to his worsening health and diplomatic pressure at that time, leading to his release. The former executive maintains his detention was not a legitimate legal matter but rather a coercive tool for financial and diplomatic leverage. He previously disputed a central bank figure, calling the $26 billion in alleged illicit outflows “complete BS.”This claim of extortion follows an earlier allegation by Gambaryan that some Nigerian lawmakers demanded a $150 million cryptocurrency bribe for his freedom, an accusation the Nigerian government swiftly denied, as “outrageous” and a “deliberate misinformation strategy.”The Nigerian government have previously denied similar allegations of bribery, though they have not yet officially responded to this specific $50 million claim.
E1 Lagos GP brings ‘Formula 1 on water’ race to Africa for the first time
Thousands of Lagosians gathered at the LASWA Boat Jetty in Ikoyi for a unique preview of the E1 Lagos GP. Rather than a typical press event, guests embarked on a lagoon cruise to experience the planned racecourse firsthand, setting the stage for a first ever electric raceboat competition on October 4-5, 2025. The waterways that sustain Lagos’ bustling trade and daily life will soon be home to the world’s fastest electric raceboats. This introduction invited attendees to envision the spectacle about to unfold, showcasing Lagos as a vibrant host city on the global watersport map. What Is the E1 Series? Think of it as Formula 1, but on the water. The E1 World Championship is the first-ever electric raceboat series worldwide. Central to the competition are the futuristic RaceBirds: sleek vessels powered entirely by renewable energy that slice across the water at incredible speeds. Celebrity-backed teams with names like Rafael Nadal, Tom Brady, Didier Drogba, and LeBron James add star power to what is a seven-race global tour. Lagos proudly marks the sixth stop on this exciting calendar. Each race winner earns 25 points toward the season-long championship, which culminates in Miami’s final showdown where the overall victor will be crowned. This is the future of aquatic sports, and Lagos now takes its rightful place on the circuit, with fast, eco-friendly, and futuristic innovations. Sam Egube, chairman of the local organising committee, described the city as one with destiny. He added that he wants Lagos to stand alongside Miami, Monaco, and other prestigious marine racing cities. More than just lofty goals, Lagos already commands regional dominance as Africa’s tech capital and entertainment powerhouse, boasting over eight unicorn firms. From fintech to Afrobeats, Lagos drives continental and global conversations, making this world-class sporting event a natural extension of its dynamic ethos. With a third of its geography covered by water, from lagoons to the Atlantic ocean, Lagos possesses a unique stage. This aquatic backdrop that has fostered commerce and growth will now host a fusion of sport, technology, and sustainability. For the first time on African soil, the E1 Series will race in Lagos, where electric boats, elegant and whisper-quiet, will be steered by men and women competing equally. The event promises a mix of races, fashion, concerts, culinary delights, and cultural festivities that epitomize local Lagosian flair. Partnerships Power the Vision Delivering an event of this dimension requires strong alliances. Lagos has mobilized heavyweight partners including FirstBank, Afriximbank, FESBAN, as well as investors like Toleran behind the Lekki Deep Sea Port, plus major firms such as Oando, Spiro, and Guinness. Lagos recognizes the fragile balance of its waterways. The 100% electric RaceBirds run on renewable energy systems producing zero emissions. This event offers a platform for Lagos to position itself as a leader in innovative, climate-conscious sporting events.
Felak Group refutes claims tying CEO and subsidiary to $7 million EFCC cash controversy
Felak Group has firmly denied allegations linking its CEO, Dr. Aisha Achimugu, and its subsidiary, Oceangate Engineering Oil & Gas, to a disputed $7 million cash transaction reportedly connected to Providus Bank. The company called the report false and misleading. The recent publication suggested that the Economic and Financial Crimes Commission (EFCC) had traced the funds to a Providus Bank vault, with the money allegedly forfeited to the Federal Government following court proceedings. However, the Felak Group pointed out inconsistencies in the report, noting that while the story located the deposit in Lagos, referenced court documents stated Abuja as the actual location. In response, the firm rejected any association with the transaction and dismissed the accusations as attempts to undermine its leadership and tarnish the reputation of Oceangate Engineering Oil & Gas. Company representatives stressed that the claims represent a deliberate effort to damage their credibility and described the report as an abuse of journalistic freedom. The statement asserted that Felak Group remains committed to upholding honest and transparent practices across its operations but will not tolerate its name being linked to unfounded controversies. The company urged the authors and distributors of the report to publicly retract their false allegations promptly. The company affirmed its intention to continue transparent activities and promised to keep stakeholders informed as the matter evolves.
UBA employee lands head-first after jumping from Lagos Island branch amid fire
Nigerians, especially the online community are expressing concern over the wellbeing of a UBA staffer who landed heavily on his head while fleeing a fire at the bank’s Lagos Island office. The harrowing escape, captured in a viral video, has generated widespread reactions. Earlier reports showed that some employees at the Lagos Island branch escaped by jumping from an upper floor as flames engulfed the building. One individual successfully leapt to safety, but his colleague’s attempt had a tragic twist. Videos circulating online reveal the second man, who is notably larger in build and carrying a bag, struggling to leap out. Tragically, midway through the descent, his leg twisted, causing him to miss the hands of those below who were trying to catch him. He then hit the ground headfirst. Efforts to assist him immediately after the fall proved difficult as he could not stand. Fellow workers visible in the footage displayed distress and frustration, one even throwing a chair in anger over the injury sustained by his coworker. The incident has prompted a flood of online comments expressing worry and calls for updates on his condition. Authorities and bank management, as at the time this story was published, are yet to release official statements regarding the injured employee’s status.
Nigerian man arrested in India for fake marriage scam defrauding woman of nearly N9.5 million
Authorities in India have apprehended a Nigerian national, Oliver Ugwu Okechukwu, 47, for deceiving a woman from Ilkal town in Karnataka’s Bagalkot district, stealing approximately Rs 5.5 lakh (around N9.5 million) through a fraudulent marriage scheme. According to Siddarth Goel, Superintendent of Police in Bagalkot, officers from the Cyber Economic and Narcotics (CEN) unit captured Okechukwu in Mumbai after an extensive inquiry. Reports from the Times of India reveal that Okechukwu resided in Mumbai’s Shivaji Nagar Bonkode Ganv area, Khairane Thane, and operated by tricking women on matrimonial websites. He fabricated multiple false identities, specifically targeting divorcees or vulnerable women desiring new relationships. In this case, the suspect impersonated a man named “Satya Amit”, who claimed to live in London and portrayed himself as a prosperous professional eager to marry. After establishing trust with his victim online, he convinced her of his intentions. About 18 months ago, Okechukwu contacted the woman, stating he had arrived in India but was trapped by customs officials, who allegedly confiscated foreign currency valued at Rs 1 crore. He begged for her assistance to pay Rs 5.5 lakh urgently to resolve the problem. Believing his story, the woman transferred the funds through RTGS to a bank account he provided. Following receipt of the money, the fraudster immediately cut off all communication and vanished. The victim later reported the scam to cybercrime authorities in Bagalkot. SP Goel confirmed the defendant used various bank accounts under false names to carry out his fraudulent operations. Investigations are underway to ascertain whether Okechukwu victimized others across the country. Officials say enhanced cyber surveillance measures are being implemented in response to a surge in foreign-related fraud cases. Currently detained, Okechukwu faces prosecution under India’s cybercrime and fraud statutes.
Femi Otedola’s memoir “Making It Big” tops Amazon’s business charts
Nigerian billionaire Femi Otedola has taken the publishing world by storm with his autobiography, “Making It Big: Lessons from a Life in Business,” which swiftly rose to the number one position in Amazon’s business category shortly after its release on August 18, 2025. The book reveals the challenges, risks, and triumphs that have shaped his impressive entrepreneurial journey. The narrative traces Otedola’s transformation from a young entrepreneur with modest beginnings to a titan in Nigeria’s energy and finance sectors. Starting as a small-scale businessman launching a manicure venture at age six, his determination propelled him to establish major companies such as Zenon Petroleum and Geregu Power. Since hitting shelves, the title has outperformed esteemed works by global figures like Phil Knight and Steven Bartlett, capturing attention across Africa and beyond.